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Starting entrepreneur

One third of all companies and more than 40% of self-employed persons in Finland have chosen Elo to manage their pension insurance needs. We welcome you to become a customer of Elo, a service-oriented employment pension company with a positive approach!

Did you know that YEL insurance:

  • accrues employment pension for your future retirement 
  • affects your social security (sickness allowance, family benefits, unemployment allowance provided by Kela)
  • must be taken within six months from the date on which you become obligated to insure under YEL
  • is a statutory insurance and cannot be replaced by voluntary pension insurance?

Find out whether you need YEL insurance

You can take YEL insurance easily using our online insurance application. You can also ask for help in taking the insurance or, for example, determining the appropriate YEL income level. You can request to be contacted at a time that is suitable for you or you can call to our sales service directly. We are happy to be of assistance.

Get YEL insurance in 5 minutes

Schedule a contact call at a time that is best for you

Call sales service

We are available weekdays 8 a.m.–3 p.m

Call 020 703 5515

What is the cost of YEL insurance?

As a starting entrepreneur, you are entitled to a 22 per cent discount on your YEL contributions for the initial 48 months of business. 
Your own YEL contribution depends on the amount of your YEL income. The price and content of YEL insurance are the same for all pension providers.

Did you know that your YEL insurance contributions are entirely tax-deductible?

Use our service to calculate the price of YEL insurance >

Who should take YEL insurance?

You are a self-employed person between the ages of 18-68

The obligation to take YEL insurance starts at the beginning of the calendar month after the self-employed person turns 18 and continues until the end of the month in which the person turns 68. The upper age limit for insuring rises gradually according to one's year of birth as follows:

  • 68 years for those born in 1957 or before
  • 69 years for those born between 1958-1961
  • 70 years for those born in or after 1962

Your annual income is a minimum of 9,010.28 euro in 2024

The income amount is your own estimate of the value of your work input in the company, and it should correspond to such wages that would be reasonable to pay for the same or similar work.

YEL income refers to the monetary value of your work input and should correspond to such wages that would be paid if your work was done by an equally competent employee. YEL income is not the same as the company’s turnover, the salary of the self-employed person or the taxable income.

A family member who is working in the business may also need YEL insurance

Under the Self-Employed Persons’ Pensions Act, the following are considered as family members:

  • The spouse or common-law spouse of the self-employed person
  • The self-employed person's children, parents and their spouses and registered partners who reside in the same household
  • Siblings are not considered family members under YEL, even if they reside in the same household.

More information about, e.g., insuring family members >

You work in your own company

YEL insurance is not required if you simply own a company, you must also be employed within the company. Entrepreneurial activities that are carried out part-time must also be insured under YEL, if the other conditions for insuring are met. If you simultaneously work as an employee for another company, your employer will also pay the statutory contributions, as prescribed by the Employees' Pensions Act.

You work as a light entrepreneur or for another employer as well

As a light entrepreneur, you will need YEL insurance if the conditions for insuring are otherwise fulfilled. Even if you are working as an employee alongside your entrepreneurial activities, you will need YEL insurance.

When is YEL insurance necessary?

Minimum annual income 9,010.28 € / 12 = monthly income of 751 €

• The figures depict the monthly income of a starting entrepreneur.
• If the income exceeds 751 € per month, YEL insurance is necessary.

Would you like to discuss with our expert as to whether you need to take YEL insurance? We can be reached weekdays 8 a.m.–3 p.m. at 020 703 5515.  You can also request that we contact you at a time that is convenient for you. 

Request a contact call

Useful links

Further information about the social security of self-employed persons

Pension insurance supervision

Training and mentoring for entrepreneurs


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